How the Hedge Fund Magnetar Is Financing the AI Boom
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Hello, and welcome to another episode of the Odd Lots podcast. I'm Tracy Alloway. And
I'm Jo Weisenthal. Jo,
AI is so hot right now. In the immortal words of, Mugatu, AI is so hot.
It yes. It is really hot. You know, you hear some things, there's a little bit of slowing down in some of the progress on the models, but the recent NVIDIA results speak for themselves. There is nothing that I've seen yet that would suggest that this macro trend, at least as an investment trend, and I'm not talking about stocks per se, is anywhere close to, quote, slowing down.
Yeah. And the interesting thing is we seem to be having more and more players, some new types of players that are getting into the space. So, you know, we have AI funds kind of launching left and right. And one of the newest players is a hedge fund called Magnatar, and I know them, like, primarily for credit stuff. I think they were big in red cap trades for a while. Yeah. And now they're launching an AI fund, a VC fund, which is kind of unusual for this type of hedge fund to do.
Totally. I mean, I've heard of Magnetar for a long time, obviously, going back to the early 20 tens, at least. And, look, I'm not surprised that various investors are looking for what is their distinct way into this space. And, of course, look, we've done interviews with VCs of various nature and positions in the past. And so I guess, you know, there's sort of 2 questions to my mind anytime we're gonna be talking to someone investing in early stage or any stage of AI, which is obviously what is the thesis, what's gonna win out, where will value accrue. But then from an investor perspective, gi
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